Hartlepool business expert says continued fall in inflation will be good for pay rises

Colin Griffiths of Stranton Business Centre.

A BUSINESS expert has warmly praised news that inflation has fallen for the sixth month in a row.

Town business consultant Colin Griffiths said it could mean more companies being able to afford pay rises and also mean more security for the long-term future of town businesses.

Inflation fell for the sixth month in succession in March paving the way for an end to the prolonged squeeze on wages.

The Consumer Prices Index (CPI) rate dropped to a new four-year low of 1.6 per cent, from 1.7 per cent in February, according to the Office for National Statistics (ONS).

It comes a day ahead of today’s separate ONS labour market statistics which are expected to show that regular pay is rising at a rate of 1.8 per cent, up from 1.3 per cent.

Mr Griffiths, from the Stranton Business Centre in Hartlepool, said: “People have not had pay rises for a long time and it is now being looked at as important for employees who have suffered for a long time.